Workiva Inc. (NYSE:WK) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in shares of Workiva Inc. (NYSE:WK) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,761 shares of the software maker’s stock after selling 1,017 shares during the period. HighTower Advisors LLC’s holdings in Workiva were worth $2,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC increased its stake in Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after purchasing an additional 140,310 shares in the last quarter. Geode Capital Management LLC increased its stake in Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after purchasing an additional 35,029 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Workiva by 13.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock worth $57,629,000 after purchasing an additional 86,746 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in Workiva by 19.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after purchasing an additional 92,192 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in Workiva in the 4th quarter worth about $59,894,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Jill Klindt sold 5,593 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the sale, the chief financial officer now directly owns 119,054 shares in the company, valued at approximately $10,124,352.16. The trade was a 4.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 in the last three months. 3.86% of the stock is owned by insiders.

Workiva Price Performance

Shares of Workiva stock opened at $87.28 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83. The stock has a 50-day simple moving average of $94.33 and a 200-day simple moving average of $91.94.

Wall Street Analyst Weigh In

WK has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird raised their price objective on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. Stephens initiated coverage on Workiva in a research report on Wednesday. They set an “overweight” rating and a $111.00 price objective for the company. Finally, Citigroup raised their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Workiva currently has an average rating of “Moderate Buy” and an average target price of $120.25.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.